Uzbekistan's gold and currency reserves see a decline

The Central Bank of Uzbekistan reported a decrease of nearly $294 million in the country's gold and currency reserves.

The Central Bank provided updated figures on Uzbekistan's international reserves, indicating that gold reserves rose by over $500 million to reach $27.31 billion in June. The physical volume of gold also increased from 11.4 million to 11.7 million troy ounces (+9.3 tons). However, the value of foreign exchange reserves decreased from $9.23 billion to $8.43 billion.

Over the reporting period, Uzbekistan's total international reserves decreased by $293.7 million. Since the beginning of 2024, foreign exchange reserves have dropped by nearly $900 million.

In May, the regulator for the first time included statistics on securities as part of the reserve data, which amounted to $35 million.

It's worth noting that in March 2024, Uzbekistan led in gold sales, selling 11 tons of the precious metal during that month.